The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Market Price

  • G. Vaggi
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1251

Abstract

The market price, or market value, is defined as the actual price paid for a commodity during a certain period of time, and may be contrasted with the natural or normal price, which is determined by the long-term forces and the permanent causes of the value of commodities (see Natural Price).

Keywords

Cantillon, R. Competition Market price Natural price 

JEL Classifications

D4 
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Bibliography

  1. Hollander, S. 1973. The economics of Adam Smith. London: Heinemann.Google Scholar
  2. Marshall, A. 1920. Principles of economics, 8th ed. Reprinted, London: Macmillan, 1972.Google Scholar
  3. Smith, A. 1776. An inquiry into the nature and causes of the wealth of nations. Oxford: Oxford University Press, 1976.CrossRefGoogle Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • G. Vaggi
    • 1
  1. 1.